Hitachi, Matsushita Make Joint Flat-Panel Display Investment May 31, 2006

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IPS Alpha Technology Ltd., a joint venture between several consumer electronics makers, including Hitachi Displays and Matsushita Electric Industrial Co., is investing 80 billion yen (approx. U.S. $713 million) to expand its LCD production due to increased demand for flat-panel TVs.

The plan includes investments in IPS' plant in Mobara, Chiba Prefecture, Japan and is said to increase production to 5 million 32-inch panels by March 31, 2008 from 2.5 million panels currently.

Additionally, IPS is considering building a plant in the Czech Republic to manufacture TFT LCD modules for the expanding European flat-panel TV market. The plant is scheduled to start production in the second half of 2007.

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